Question

purchasing a life insurance policy. Which type of transactions it is?​

Answer 1

Answer:

Most of us know that a premium is the price paid for buying an insurance policy but several premium-related aspects are less well understood. What determines discounts offered on life insurance policy premiums? What are the different types of life insurance premiums? Premium payment frequency and what happens if you forget to pay? Did you know tax benefit is available only on premium paid for life insurance policies in your name or in the name of specified relatives? Basic knowledge of these is necessary to be able to choose and maintain your life insurance policy.